Pension Planning


Peter Andreyev
NJSPBA
158 Main Street
Woodbridge, NJ 07095-2108

Tel: (732) 636-8860
Fax: (732) 636-0172
pandreyev@njspba.com

Pension Events

 

Peter Andreyev has been a member of the Point Pleasant Beach Police Department since being hired as a Special Officer in 1992. He was hired full time as a Police Officer in February of 1994. Though most of his career was spent in Patrol, Pete also had assignments as a Bicycle Patrol Officer and as an Investigator. Pete also served as a Police Academy and Department Instructor in the Use of Force (Defensive Tactics) and EVOC. Pete was elected President of Point Pleasant Beach PBA Local 106 in June of 1996 and then took over an unexpired term as Delegate in November of 1997 and has served ever since. In 2003 Pete was elected to the State PBA Executive Board and is currently serving as 2nd Vice President.

In 2003 Pete was elected as Chairman of the Ocean County PBA conference and was appointed to various committees on the state level. Currently Pete serves on the Scholarship Committee, as well as the new delegates committee and convention committee. Pete was appointed to become the Chairman of the Convention Committee in 2013.

Pete was named the NJSPBA Pension Coordinator and started in that capacity on October 1, 2014. He will conduct Police and Firemens' Retirement System pension seminars throughout the state and will meet with individual members seeking information on disability retirements. He is available to answer any questions regarding the PFRS system by phone, email or in person.

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Pension News


Important NJSPBA Member Message from Executive Vice President Marc Kovar

It was a hectic day for over 300 NJSPBA members who crowded the NJ Assembly hallways in support of legislation that allows the Police and Firemen’s Retirement System to be managed by a board comprised of law enforcement, firefighters and government officials.  I want to publicly thank all our members who made it to Trenton to gather support for this effort on less than 24-hour notice.  Our membership always comes through when it matters—Thank you.

After years of underperforming investment gains and increasing hedge fund consultant fees, if the governor approves this legislation, this legislation will provide an opportunity for us, along with our brothers and sisters from the FMBA and the FOP, to protect our retirement funds.

I want to also thank the majority of Assembly members and State Senators who supported us in this effort.  I encourage all of you to know your legislators and find out if they supported the NJSPBA today.  Please contact me if you want information on the actual vote.

Message from President Colligan: PFRS Restructuring Bill will lead to growth and lower costs for all

The recent hysteria from local government officials about PBA endorsed legislation to restructure the management of the Police and Firemen’s Retirement System is a massive stretch of the facts that ignores the reality of the clear language of the bill, the success of the labor-management pension funds around the nation and the League of Municipalities role in crafting much of the bill as it appears today.

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Call Your Assembly Members Today - Support Legislation S-3040/A-99

Help us fight for the future health of PFRS – Support S-3040/A-99!

Call your Assembly members TODAY!

The Assembly will meet on Thursday, March 23rd, 2017 to consider Senate Bill 3040/Assembly Bill 99.  We proposed the legislation to protect the PFRS from political interference and the State’s mismanagement that over the last 20 years has reduced the value of PFRS from over 100% funded to just over 70% funded today.  The bill establishes a new PFRS Board of Trustees who will hire professionals and staff to manage the PFRS, to make its investments and to establish policies to enforce government pension payments to achieve full funding for the pension fund.  The time has come to put an end to shell games and political moves that has underfunded our pension system.  You deserve to have a pension fund that is managed by professionals whose only job will be to fund PFRS and to preserve your benefits.  Our bill will do that and we need your support today to get it done.

Please call your Assembly members today:

  • Tell them you are a voter in their District
  • Tell them you are a member of the State PBA
  • Ask them to vote “YES” on S-3040/A-99

One short phone call multiplied by our 33,000 members and your family can make a difference.  The choice before us is clear.  Do nothing and let the State continue to mismanage PFRS and lose money investing for you or pass this bill and bring stability and fiscal strength to PFRS.

The choice belongs to the Assembly now.  Let them know you care about the future of PFRS and this bill.

Thanks,

Pat Colligan
State President

NJ State PBA President Colligan on Christie Pension Funding Proposal

EDISON – New Jersey State Policemen's Benevolent Association President Patrick Colligan today released the following statement on Governor Christie’s proposal in his Budget Address to dedicate lottery funds to help fund the state’s pension obligation:

“Governor Christie’s proposal today is a good first step for our members.  We recognize that the Budget Address is a launching point for negotiation between the Governor and the Legislature, but we believe the dedication of lottery funds to help meet the State’s pension funding obligation is a start.  We look forward to the state fulfilling its long-standing obligation to fund the PFRS and providing our 33,000 members the pensions they have earned.”

Statement of New Jersey State PBA President Patrick Colligan on State Supreme Court Decision With Regard to Pension Cost of Living Increases

(Woodbridge, NJ - June 9, 2016)- Today the New Jersey Supreme Court ruled that Governor Chris Christie was within his authority to take away cost of living adjustments from retirees.   The pension adjustments based on inflation, commonly known as COLA, were stripped away from retirees by Governor Christie in 2011.

“NJSPBA members agree that state government needs to be concerned with fiscal responsibility, especially when dealing with unfunded pension liabilities.  But the reality is that retired law enforcement officers and fire fighters held up their end of the pension agreement.  These former officers didn’t skip pension contributions, while the state continues to skip or underfund their responsibility.  An actuarial analysis of PFRS found that the state’s actual contributions to PFRS have averaged only 60% of what the state was required to pay since 1998.
 
“New Jersey’s pension system is not one monolithic fund that is losing money daily.  In fact, the State manages five pension plans for State and local employees.  Of those five, the Police and Firemen’s Retirement System (PFRS) is financed mainly by local governments, law enforcement officers and firefighters who have been making their required pension payments.  The current funded level of the local portion of PFRS is near 80% and far ahead of the other pension systems.
 
“The NJSPBA believes that an honest discussion on pension funding and the health of the State’s pension system will show the pension system that police officers and fire fighters rely on for their retirement, PFRS, is financially stable and positioned to succeed if required payments are made moving forward.
 
Retired law enforcement officers were stripped of annual cost of living increases by Governor Christie in 2011.  These retired officers are living on fixed incomes and approximately 80% do not receive social security benefits.  The burden caused by the state skipping pension payments should not fall on the backs of our retirees.  We need a full-time governor moving forward to deal with the state’s growing problem with regard to unfunded pension liabilities.”

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